Coinbase’s shares surged nearly 5% following its MiCA license approval in Luxembourg, allowing the exchange to expand its EU operations under the bloc’s new regulatory framework.
The license, granted by Luxembourg’s CSSF, puts Coinbase in direct competition with OKX, Crypto.com, and Bybit, which have also obtained MiCA approval. Gemini is reportedly next in line, per Reuters.
Luxembourg, now Coinbase’s official EU base, has been a crypto policy leader, passing four blockchain laws in recent years. The exchange praised the country’s regulatory clarity and strategic European location.
At publication, COIN was trading at $309.92, up from $295.29 the prior close, as markets reacted to the regulatory win.
